Broadcom (NASDAQ:AVGO) had its price objective upped by Susquehanna Bancshares from $300.00 to $340.00 in a note issued to investors on Tuesday, The Fly reports. Susquehanna Bancshares’ price objective suggests a potential upside of 15.65% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Broadcom from a “hold” rating to a “sell” rating and set a $211.00 price objective on the stock. in a report on Wednesday, March 18th. Robert W. Baird cut their price target on Broadcom from $400.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, March 13th. Citigroup cut their price target on Broadcom from $340.00 to $303.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Rosenblatt Securities cut their price target on Broadcom from $370.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Finally, BidaskClub upgraded Broadcom from a “sell” rating to a “hold” rating in a report on Tuesday, March 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $313.84.
Shares of AVGO stock traded up $4.00 on Tuesday, hitting $293.99. The stock had a trading volume of 1,067,750 shares, compared to its average volume of 1,963,808. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.56 and a quick ratio of 1.44. The firm has a market capitalization of $116.45 billion, a P/E ratio of 48.48, a P/E/G ratio of 1.46 and a beta of 0.92. Broadcom has a 1 year low of $155.67 and a 1 year high of $331.58. The company’s 50 day moving average price is $268.70 and its 200-day moving average price is $286.26.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 12th. The semiconductor manufacturer reported $5.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.33 by ($0.08). The firm had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $5.99 billion. Broadcom had a net margin of 11.64% and a return on equity of 32.46%. Broadcom’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.55 EPS. On average, equities analysts forecast that Broadcom will post 17.21 EPS for the current year.
In other Broadcom news, insider Mark David Brazeal sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $257.25, for a total transaction of $514,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 73,646 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $198.18, for a total value of $14,595,164.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,994 shares of company stock valued at $16,643,562. Insiders own 3.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AVGO. Great Diamond Partners LLC acquired a new stake in Broadcom during the 4th quarter worth approximately $27,000. HHM Wealth Advisors LLC acquired a new stake in shares of Broadcom in the 1st quarter valued at approximately $29,000. Sterling Investment Advisors Ltd. acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $31,000. Private Ocean LLC lifted its holdings in shares of Broadcom by 1,566.7% in the 4th quarter. Private Ocean LLC now owns 100 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 94 shares during the period. Finally, Islay Capital Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $32,000. 81.79% of the stock is owned by institutional investors.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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